2012 (12) TMI 69

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..... d be entitled to deduction under Section 80-IB(10) of the Act and that the assessee would be entitled to proportionate relief as regards the units having built up area not more than 1500 sq.ft. 7. As far as the Revenue's contention that for the purpose of Section 80-IB(10) deduction, the assessee should have owned the property is concerned, the same is liable to be rejected - Decided in favor of assessee.
Chitra Venkataraman And K. Ravichandrabaabu, JJ Appellant Rep. by : Mr. J Naraynanaswamy, Standing Counsel for Income Tax Respondent Rep. by : Mr. R Sivaraman JUDGEMENT Both the assessee as well as the Revenue have filed appeals as against the common order of the Income Tax Appellate Tribunal relating to the assessment years 2005-06 .....

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..... ject the issue in question. On a perusal of the questions now raised before this Court, after hearing the learned senior counsel appearing for the assessee, who had no serious objection for re-framing the questions, the following substantial questions of law are admitted: "1. Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee had satisfied the conditions laid down under the Section 80IB(10) and is eligible for deduction said under Section 80IB(10)? 2. Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that assessee cannot be treated only as a contractor as per the terms of the agreement between the owner of the land and the assessee for t .....

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..... deduction under Section 80IB(10) of the Income Tax Act is rejected on the ground that the assessee was not the owner of the land. Aggrieved by the same, the assessee went on appeal before the Commissioner of Income Tax (Appeals), who dismissed the appeal. Aggrieved by the same, the assessee went on further appeal before the Income Tax Appellate Tribunal. 6. The Tribunal considered the assessee's appeal along with two other assessees' appeals involving similar questions of law and passed a common order. One such assessee's case came up for consideration in T.C.Nos.581, 1186 of 2008 and 136 of 2009 in the case of Ceebros Hotels Pvt. Ltd. Vs. Deputy Commissioner of Income Tax. By judgment dated 19.10.2012, this Court allowed the assessee's ap .....

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